U.S. farmers having one of the best years in decades

Posted by IronPlanet on Dec 27, 2011 6:03:00 PM

The economy may still be moving forward at a snail's pace, but that hasn't stopped the nation's farmers from having one of the most profitable years in decades. According to the Economic Times, many crops have high prices and there is a steady worldwide demand for corn for the production of ethanol.

It's expected that farm profits will collectively break $100 billion, a jump of about 28 percent from 2010's numbers. Crops sales are expected to surpass $200 billion for the first time in U.S. history. Speaking to the news source, farmer Dale Hadden says corn and soybean prices have risen between 10 and 15 percent compared to recent years.

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Topics: Industry Headlines